FIBO Content Team Loan FIBO Loan Content Team

FIBO™ Content Team : Loan FIBO Loan Content Team Meeting August 13, 2015 Confidential 1/9/2022 EDM-Council/FIBO Loan Content Team 1

Agenda • • Announcements Where are we on our roadmap? JIRA Issue Review Recap and Update from last meeting Homework from last session discussion New content for Review Next meeting Confidential 1/9/2022 EDM-Council/FIBO Loan Content Team 2

Announcements • Announcements from Dennis Confidential 1/9/2022 EDM-Council/FIBO Loan Content Team 3

Current Roadmap Beta 2 Milestone Spec Activity FTF 2 2014 Q 2 2015 Q 3 FIBO FND OMG finalization TF (FTF) Beta 1 Public review { Confidential Q 1 Q 4 FTF 2 Beta 2 Final FIBO-BE OMG finalization TF (FTF) Indices & Indicators 1/9/2022 OMG Task Force Public review Q 2 Q 3 Q 4 OMG Revision TF (RTF) Beta 2 FTF 2 OMG FTF RTF Final Beta 2 Financial Business and Commerce FTF 2 RFC Public review Securities and Equities RFC Loans common Derivatives Other FIBO Components EDM-Council/FIBO Loan Content Team 4 FIBO Market Data, CAE, Risk/ 4

JIRA Issue Tracking • See JIRA Confidential 1/9/2022 EDM-Council/FIBO Loan Content Team 5

From Last Meeting • Began review of the Loan framework scaffolding created by Michael Confidential 1/9/2022 EDM-Council/FIBO Loan Content Team 6

New Content: Integrated Loan Concepts --Reviewed Integrated Loan Concepts with business team --Continue process of review with Michael’s material Confidential 1/9/2022 EDM-Council/FIBO Loan Content Team 7

Recent Activity • Reviewed Model with SMEs • Made a few update • First draft of model in OWL Confidential

Immediate Goals • Get agreement on a core loan model/framework that can be extended. • Indentify the correct linkages to the higher level concepts in FIBO. e. g. Confidential – Party – Product – Offer – Contract that instantiates an Offer – Event – Obligation – Content (e. g. written text)

What is a LOAN? An amount of money that is borrowed, often from a bank, and has to be paid back, usually together with an extra amount of money that you have to pay as a charge for borrowing. http: //dictionary. cambridge. org/dictionary/british/loan Sometimes called credit, a debt, or an obligation. Confidential

Loans Overview Version updated after Aug 6 meeting. Confidential

Contracts – Offers - Products • Loan Product: the thing that will be on offer • Loan Offer: making a product available for purchase with specific terms. • Loan Contract: the instantiation of the offer for a particular product with among specified parties. • How does this relate to Debt as a “Financial Instrument” Confidential

Contract Terms • Contract Terms: – The actual restriction, permission, requirement, commitment, obligation etc vs. – evidence of that written e. g. in some document – Relates to regulations. Both explicity constrain behaviors (what must, must not, should not be done by whom when or where) Confidential

Contract Terms • Contract Terms: – what level of detail is needed for the contract terms – To what extent will a term be processed by a system automatically? – Does the meaning have to be modeled explicitly, or can it be essentially a tag (like secured vs. unsecured) – The difference is whether the system has a hardwired knowledge of what to do, vs. processes the meaning on the fly. Confidential

Obligations Confidential

Funding & Collateral Confidential

Mortgage Events & Documents Confidential

Preview of Visual OWL Notation Subclass Classes are Rectangles Restrictions on a class Instances of a class Arrows just for good looks Confidential

Questions: Modelling • To what extent do we need to represent process, vs. merely the documents that the process produces? The current use cases suggest the latter. Confidential

Next Steps • Complete model in OWL (using existing approximate classes and properties) • Connect to the correct FIBO classes and properties • Go through the whole process of release for this starter ontology that will be a foundation on which to further build. Confidential

Next Meeting Agenda • Continue review of Loan scaffolding from Mike Uschold Logistics • Next Meeting for the tech team: – August 20, 2015 3 -4: 00 EST Confidential 1/9/2022 EDM-Council/FIBO Loan Content Team 22